Detailed text transcripts for TV channel - CNN - 20110504:08:08:00
This is it, $116 billion, as you can see. that is what the european union at the international monetary fund have agreed to lend to portugal as part of a three-year bailout plan. they'll have to reduce their deficit from 9.1% of gdp last year to 5.9% of gdp this year. the country was hoping earlier for half the figure. but it's said that -- well, he was forced to resign in march after failing to agree to a settlement in parliament. they've described the new deal as a less demanding one than the bailouts secured by the likes of ireland and greece in the last year and that's certainly lower in t...
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